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Great investment opportunity for builders to develop, investors to buy and hold or as an owner-occupied property. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs).Prime development opportunity in the vibrant and rapidly evolving 90043 zip code of Los Angeles. The parcel, zoned C2-2D-SP, offers significant potential for mixed-use development, benefiting from its designation as a TOC Tier 3 site. This tier allows for substantial density increases and parking reductions, enhancing the project's feasibility and attractiveness.Key Features include a generous buildable area with a lot size of 7,992 sq. ft. and a buildable square footage of 47,952 sq. ft., this property is ideal for creating a substantial mixed-use development. Density and parking benefits may allow a 70% density increase and a 50% reduction in parking requirements, optimizing the project's scope and efficiency. Situated in a bustling area with easy access to major thoroughfares and public transportation, this property is positioned to capitalize on the growing demand for residential and commercial spaces in Los Angeles. The strategic location ensures a steady influx of potential residents and businesses, making it a highly attractive investment for developers. All information given is deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation to verify zoning, planning and building possibilities, including but not limited to lot size, to their satisfaction. Call listing agent for additional information on the current rent roll. This property may be delivered vacant at close of escrow. An additional 3/2 unit is under construction with permits, bringing total number of units to three 3/2's. Property will be shown by appointment with accepted offer subject to interior inspection.
Property Type(s):
Residential Income
| Last Updated | 7/15/2024 | Year Built | 1999 |
|---|---|---|---|
| Community | Park Hills Heights | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Refrigerator |
| AREA | Park Hills Heights |
| GARAGE | One Space, Yes |
| HEAT | Wall Furnace |
| LOT | 7992 sq ft |
| PARKING | One Space |
| STORIES | 1 |
| ZONING | LAC2 |
Location
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Listed with RE/MAX ESTATE PROPERTIES
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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